Prelude Capital Management LLC Invests $530,000 in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Dec 18th, 2022

Prelude Capital Management LLC acquired a new position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,433 shares of the transportation company’s stock, valued at approximately $530,000.

Several other large investors have also modified their holdings of EXPD. Valley National Advisers Inc. lifted its holdings in shares of Expeditors International of Washington by 605.6% in the second quarter. Valley National Advisers Inc. now owns 254 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 218 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Expeditors International of Washington by 2,866.7% in the second quarter. Allworth Financial LP now owns 267 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 258 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Expeditors International of Washington by 78.0% in the second quarter. Lindbrook Capital LLC now owns 283 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 124 shares in the last quarter. TCI Wealth Advisors Inc. lifted its holdings in shares of Expeditors International of Washington by 3,625.0% in the second quarter. TCI Wealth Advisors Inc. now owns 298 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 290 shares in the last quarter. Finally, Venture Visionary Partners LLC purchased a new stake in shares of Expeditors International of Washington in the second quarter valued at $29,000. 89.56% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Eugene K. Alger sold 11,500 shares of Expeditors International of Washington stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $113.43, for a total transaction of $1,304,445.00. Following the sale, the insider now directly owns 17,879 shares of the company’s stock, valued at $2,028,014.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Jeffrey F. Dickerman sold 986 shares of Expeditors International of Washington stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $106.59, for a total transaction of $105,097.74. Following the sale, the vice president now directly owns 1,770 shares of the company’s stock, valued at $188,664.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eugene K. Alger sold 11,500 shares of Expeditors International of Washington stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $113.43, for a total value of $1,304,445.00. Following the sale, the insider now directly owns 17,879 shares in the company, valued at $2,028,014.97. The disclosure for this sale can be found here. Insiders have sold a total of 29,692 shares of company stock valued at $3,237,336 over the last three months. 0.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EXPD. Cowen reduced their target price on Expeditors International of Washington to $122.00 in a report on Tuesday, November 15th. StockNews.com initiated coverage on Expeditors International of Washington in a report on Wednesday, October 12th. They set a “hold” rating for the company. BNP Paribas initiated coverage on Expeditors International of Washington in a report on Thursday, December 1st. They set a “neutral” rating and a $107.00 price objective for the company. Susquehanna cut their price objective on Expeditors International of Washington from $110.00 to $95.00 in a report on Wednesday, November 9th. Finally, Susquehanna Bancshares cut their price objective on Expeditors International of Washington from $110.00 to $95.00 in a report on Wednesday, November 9th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $101.78.

Expeditors International of Washington Stock Performance

Shares of NASDAQ:EXPD opened at $108.54 on Friday. The company has a market cap of $17.27 billion, a P/E ratio of 11.40 and a beta of 0.96. The stock’s 50-day moving average is $103.96 and its 200-day moving average is $101.15. Expeditors International of Washington, Inc. has a 52-week low of $86.08 and a 52-week high of $136.36.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.62. The company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.21 billion. Expeditors International of Washington had a return on equity of 44.27% and a net margin of 8.36%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $2.09 earnings per share. As a group, equities analysts predict that Expeditors International of Washington, Inc. will post 8.69 EPS for the current year.

Expeditors International of Washington Announces Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a $0.67 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, November 30th. Expeditors International of Washington’s dividend payout ratio is currently 14.08%.

About Expeditors International of Washington

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Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.